The longest over expanded period period's 1.25 standard deviation was crossed and bitcoin has entered its compressionary period to restore the market to a state of potential energy. Trend cannot continue until the 225 period WAVE PM compresses below the 0.7 value, which should result in a sustained sideways move.
This will be the beginning of alt season.
In this video i want to show my point of view on the Ethereum (ETH/USD) chart :
Reasons why im looking at it :
- We are at a "Market Top"
- Uptrending trendline at market top
- Small RSI divergence
- Market structure
We have to hold the key supports to stay "safe" , if we dont hold these lows we will probably get and retracement , back to the 500...
Quick video this morning on BTC. I deleted all my fibs, trendlines, etc that youave seen in other videos and started anew!
I go back and draw a little be on previous price action as a way to get a general idea of where price action may be headed.
Would love to here what you all are thinking, so if you liked the video give me a like and leave a comment on...